SOURCE: Bernstein Liebhard LLP

December 02, 2009 11:33 ET

ProShares Ultra Oil & Gas (DIG) Submission Deadline for Investors Announced by Bernstein Liebhard LLP

NEW YORK, NY--(Marketwire - December 2, 2009) - Bernstein Liebhard LLP has filed cases (the "Complaints") against ProShares Trust ("ProShares") concerning ProShares' SRS, SKF, UYG, DUG, and DXD funds (the "Funds"). These complaints allege that ProShares, as well as others, violated the Securities Act of 1933 by failing to disclose the following risks, inter alia, in the Registration Statement, Prospectuses, and Statements of Additional Information issued in connection with shares of the Funds: (1) if shares of the Funds were held for a time period longer than one day, the likelihood of catastrophic losses was huge; and (2) the extent to which performance of the Funds would inevitably diverge from the performance of its benchmark -- i.e., the overwhelming probability, if not certainty, of spectacular divergence.

A case has also been filed concerning ProShares' Ultra Oil & Gas fund (NYSE: DIG) (the "DIG Fund"). The deadline to move for lead plaintiff in the action concerning the DIG Fund is January 4, 2010.

A "lead plaintiff" is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Bernstein Liebhard LLP, or other counsel of your choice, to serve as your counsel in this action.

Bernstein Liebhard is also investigating claims on behalf of investors in all other ProShares leveraged funds (see list below).

Fund                                        Ticker
UltraShort QQQ                              NYSE: QID
UltraShort Russell3000                      NYSE: TWQ
UltraShort MidCap400                        NYSE: MZZ
UltraShort SmallCap600                      NYSE: SDD
UltraShort Russell2000                      NYSE: TWM
UltraPro Short S&P500                       NYSE: SPXU
UltraShort Russell1000 Value                NYSE: SJF
UltraShort Russell1000 Growth               NYSE: SFK
UltraShort Russell MidCap Value             NYSE: SJL
UltraShort Russell MidCap Growth            NYSE: SDK
UltraShort Russell2000 Value                NYSE: SJH
UltraShort Russell2000 Growth               NYSE: SKK
UltraShort Basic Materials                  NYSE: SMN
UltraShort Consumer Goods                   NYSE: SZK
UltraShort Consumer Services                NYSE: SCC
UltraShort Health Care                      NYSE: RXD
UltraShort Industrials                      NYSE: SIJ
UltraShort Semiconductors                   NYSE: SSG
UltraShort Technology                       NYSE: REW
UltraShort Telecommunications               NYSE: TLL
UltraShort Utilities                        NYSE: SDP
UltraShort MSCI EAFE                        NYSE: EFU
UltraShort MSCI Europe                      NYSE: EPV
UltraShort MSCI Pacific ex-Japan            NYSE: JPX
UltraShort MSCI Brazil                      NYSE: BZQ
UltraShort MSCI Japan                       NYSE: EWV
UltraShort MSCI Mexico Investable Market    NYSE: SMK
UltraShort 7-10 Year Treasury               NYSE: PST
UltraShort 20+ Year Treasury                NYSE: TBT
UltraShort DJ-UBS Commodity                 NYSE: CMD
UltraShort Gold                             NYSE: GLL
UltraShort Silver                           NYSE: ZSL
UltraShort Euro                             NYSE: EUO
UltraShort Yen                              NYSE: YCS
Ultra QQQ                                   NYSE: QLD
Ultra Dow30                                 NYSE: DDM
Ultra S&P500                                NYSE: SSO
Ultra Russell3000                           NYSE: UWC
Ultra MidCap400                             NYSE: MVV
Ultra SmallCap600                           NYSE: SAA
Ultra Russell2000                           NYSE: UWM
UltraPro S&P500                             NYSE: UPRO
Ultra Russell1000 Value                     NYSE: UVG
Ultra Russell1000 Growth                    NYSE: UKF
Ultra Russell MidCap Value                  NYSE: UVU
Ultra Russell MidCap Growth                 NYSE: UKW
Ultra Russell2000 Value                     NYSE: UVT
Ultra Russell2000 Growth                    NYSE: UKK
Ultra Basic Materials                       NYSE: UYM
Ultra Consumer Goods                        NYSE: UGE
Ultra Consumer Services                     NYSE: UCC
Ultra Health Care                           NYSE: RXL
Ultra Industrials                           NYSE: UXI
Ultra Oil & Gas                             NYSE: DIG
Ultra Real Estate                           NYSE: URE
Ultra Semiconductors                        NYSE: USD
Ultra Technology                            NYSE: ROM
Ultra Telecommunications                    NYSE: LTL
Ultra Utilities                             NYSE: UPW
Ultra DJ-UBS Commodity                      NYSE: UCD
Ultra DJ-UBS Crude Oil                      NYSE: UCO
Ultra Gold                                  NYSE: UGL
Ultra Silver                                NYSE: AGQ
Ultra Euro                                  NYSE: ULE
Ultra Yen                                   NYSE: YCL
Ultra MSCI EAFE                             NYSE: EFO
Ultra MSCI Emerging Markets                 NYSE: EET
Ultra FTSE/Xinhua China 25                  NYSE: XPP
Ultra MSCI Japan                            NYSE: EZJ

If you purchased or otherwise acquired shares in the DIG Fund or any of the funds listed above, and either lost money on the transaction or still hold the shares, please contact Joseph R. Seidman, Jr. at (877) 779-1414.

Bernstein Liebhard has pursued hundreds of securities and consumer cases and recovered approximately $2 billion for its clients. It has been named to The National Law Journal's "Plaintiffs' Hot List" in each of the last seven years.

You can view a copy of the Complaints online at, or obtain a copy from the clerk of the court for the United States District Court for the Southern District of New York.

Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414

ATTORNEY ADVERTISING. © 2009 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information

  • Contact Information
    Christian Siebott
    Joseph R. Seidman, Jr.
    Bernstein Liebhard LLP
    (212) 779-1414